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Buy (3.25 out of 4)
48th percentile
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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, April 25, 5:42 AM
Slide #304. Arch Capital Group Ltd. — Preferred Stock Offering
Company: |
Arch Capital Group Ltd. (NASDAQ:ACGL) |
Date announced: |
9/22/2016 |
Shares Offered: |
18,000,000 |
Date of Pricing: |
9/22/2016 |
Price Per Share: |
$25.00 |
Preferred Stock Offering Details: |
Arch Capital Group Ltd. [NASDAQ:ACGL] announced today that it has priced an underwritten public offering of 18,000,000 Depositary Shares, each of which represents a 1/1,000th interest in a 5.25% Non-Cumulative Preferred Share, Series E, of ACGL. The public offering price is $25 per Depositary Share for an aggregate public offering price of $450 million. The underwriters have been granted a 30-day option to purchase up to an additional 2,700,000 Depositary Shares. The Company intends to use the net proceeds of this offering to fund a portion of the cash consideration for its acquisition of United Guaranty Corporation and AIG United Guaranty Insurance (Asia) Limited from their current owner, American International Group, Inc. (UGC Acquisition), to pay related costs and expenses and for general corporate purposes. The closing of this offering is not contingent on the closing of the UGC Acquisition. The offering is expected to close on September 29, 2016, subject to customary closing conditions. |
Arch Capital Group is a holding company. Through its subsidiaries, Co. provides insurance, reinsurance and mortgage insurance. Co.'s underwriting segments are: insurance, which includes construction and national accounts, excess and surplus casualty, lenders products, professional lines, programs, and property, energy, marine and aviation; reinsurance, which includes casualty, marine and aviation, other specialty, property catastrophe, and property excluding property catastrophe; and mortgage, which includes its U.S. primary mortgage insurance, U.S. credit risk transfer that are mainly with government sponsored enterprises and international mortgage insurance and reinsurance operations. Preferreds: ACGLP, ARH.PRC, ACGLO, ACGLN
Open the ACGL Page at Preferred Stock Channel »
Name: |
Arch Capital Group Ltd |
Website: |
www.archcapgroup.com |
Sector: |
Insurance Brokers |
Number of ETFs Holding ACGL: |
100 (see which ones) |
Total Market Value Held by ETFs: |
$5,154,924,282.63 |
Total Market Capitalization: |
$35,114,000,000 |
% of Market Cap. Held by ETFs: |
14.68% |
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Open the ACGL Page at Preferred Stock Channel (in a new window) »
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